MeadowBrook Investment Advisors LLC Reduces Position in SPDR S&P Biotech ETF (NYSEARCA:XBI)

MeadowBrook Investment Advisors LLC decreased its holdings in SPDR S&P Biotech ETF (NYSEARCA:XBI) by 1.7% in the third quarter, Holdings Channel reports. The fund owned 14,905 shares of the exchange traded fund’s stock after selling 255 shares during the period. SPDR S&P Biotech ETF accounts for approximately 1.3% of MeadowBrook Investment Advisors LLC’s investment portfolio, making the stock its 18th largest holding. MeadowBrook Investment Advisors LLC’s holdings in SPDR S&P Biotech ETF were worth $1,473,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Quintet Private Bank Europe S.A. acquired a new stake in SPDR S&P Biotech ETF during the third quarter worth about $40,000. ORG Partners LLC acquired a new stake in shares of SPDR S&P Biotech ETF during the 2nd quarter worth approximately $40,000. ORG Wealth Partners LLC acquired a new position in SPDR S&P Biotech ETF in the third quarter valued at approximately $44,000. Waldron Private Wealth LLC purchased a new position in SPDR S&P Biotech ETF in the third quarter worth approximately $54,000. Finally, Resources Management Corp CT ADV increased its stake in SPDR S&P Biotech ETF by 30.3% during the second quarter. Resources Management Corp CT ADV now owns 593 shares of the exchange traded fund’s stock worth $55,000 after acquiring an additional 138 shares during the last quarter.

SPDR S&P Biotech ETF Stock Performance

Shares of SPDR S&P Biotech ETF stock traded down $1.02 during trading hours on Thursday, hitting $98.99. The company’s stock had a trading volume of 2,407,165 shares, compared to its average volume of 9,311,933. The stock has a market cap of $7.55 billion, a price-to-earnings ratio of 11.47 and a beta of 1.11. SPDR S&P Biotech ETF has a twelve month low of $69.32 and a twelve month high of $105.47. The firm has a fifty day moving average of $99.07 and a 200-day moving average of $95.98.

About SPDR S&P Biotech ETF

SPDR S&P Biotech ETF (the Fund) seeks to closely match the returns and characteristics of the S&P Biotechnology Select Industry Index. The S&P Biotechnology Select Industry Index represents the biotechnology sub-industry portion of the S&P Total Markets Index. The S&P TMI tracks all the United States common stocks listed on the New York Stock Exchange, American Stock Exchange, National Association of Securities Dealers Automated Quotation (NASDAQ) National Market and NASDAQ Small Cap exchanges.